Opera (NASDAQ:OPRA) Stock Price Down 6.7%

Opera Limited (NASDAQ:OPRA)’s stock price fell 6.7% on Thursday . The stock traded as low as $12.85 and last traded at $13.52. 720,367 shares changed hands during trading, a decline of 25% from the average session volume of 959,538 shares. The stock had previously closed at $14.49.

Wall Street Analyst Weigh In

OPRA has been the subject of a number of research reports. TD Cowen increased their target price on Opera from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. TheStreet raised shares of Opera from a “c+” rating to a “b-” rating in a research report on Monday, March 4th.

Opera Stock Down 6.1 %

The firm has a 50-day moving average price of $14.30 and a two-hundred day moving average price of $12.64. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 7.14 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 4.69.

Opera (NASDAQ:OPRA) last announced its earnings results on Thursday, February 29th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $0.18 by $1.20. The business had revenue of $113.00 million during the quarter, compared to analysts’ expectations of $112.20 million. Opera had a net margin of 42.69% and a return on equity of 19.90%. As a group, sell-side analysts anticipate that Opera Limited will post 0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OPRA. Citigroup Inc. bought a new stake in shares of Opera during the 3rd quarter worth approximately $31,843,000. Element Capital Management LLC bought a new stake in Opera during the third quarter worth $1,690,000. Walleye Capital LLC acquired a new stake in Opera in the third quarter valued at $3,652,000. Toroso Investments LLC bought a new position in shares of Opera in the 3rd quarter valued at about $3,009,000. Finally, Alpine Global Management LLC acquired a new position in shares of Opera during the 3rd quarter worth about $1,652,000. 10.21% of the stock is owned by institutional investors and hedge funds.

Opera Company Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers. It operates in two segments, Browser and News, and Other. The company offers mobile browser products, such as Opera Mini, Opera for Android and iOS, Opera GX Mobile, and Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.